SBD/Issue 132/Franchises

Bettman Confirms Coyotes Seeking Investors, But Won't Relocate

Bettman Says Goal Is To Bring In New Capital,
Make Coyotes Solvent
NHL Commissioner Gary Bettman Thursday said that the "financially struggling" Coyotes are "actively seeking investors or possibly new ownership, but reiterated that the team won't be relocated," according to the AP. Bettman while attending the Oilers-Coyotes game at Jobing.com Arena said, "Our goal is to bring in new capital and make this franchise solvent. That's our direction, and at this point moving the franchise elsewhere is not on the table." Bettman said that the Coyotes are "actively engaging with potential investors, whom he would not identify" (AP, 3/27). Bettman: "Based on the information I'm getting, the process of finding a new buyer is moving along to their satisfaction. (Bankruptcy) is not something that we find likely or desirable. I think everybody needs to take a deep breath. There's no urgency right this minute, and at least based on the information that I've been given, things are on track" (EDMONTON JOURNAL, 3/27). More Bettman: "We are very supportive of the Coyotes, and the Coyotes being in Glendale, and (owner) Jerry Moyes has made it clear he's looking for a capital infusion. ... We're not thinking about anything else." Bettman indicated that it is "not a question of the league tolerating a difficult financial situation, but a question of ownership tolerating it" (ARIZONA REPUBLIC, 3/27).

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